EXOSKELETON MARKET TO REACH USD 8.9 BILLION BY 2027 | CAGR 44.8% – FORENCIS RESEARCH

Global Exoskeleton Market: Key Highlights

• According to the new market research report “Exoskeleton Market by Component (Hardware, Software), by Hardware (Actuator, Sensors, Controller and Others), by Technology (Mobile Exoskeleton, Stationary Exoskeleton), by Type (Powered, Passive), by Body Type (Upper Limit, Lower Limit and Full Body Limit ), by End-Use (Healthcare, Military and Industries), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2020 to 2027)”, the global Exoskeleton Market is estimated to reach USD 8.9 Billion by 2027 at a CAGR of around 44.8% during the review period.
• The exoskeleton can be made from rigid materials such as carbon fiber and metals, as well as from soft and elastic parts.
• Moreover, the increasing use for farmers, welders, and soldiers which will lead to enhance the demand of the market in the forecast period.

Global Exoskeleton Market: Key Market Dynamics

• With the rising demand in healthcare sector is witness to increase the demand of the market in the forecast period. It helps the patients to walk again with the exoskeletons service, and benefits by enhancing the bowel, bladder control and endurance.
• The use of 3D printing technology will also help to improve the product deigns without the extra costs and additional devices.
• One of the major key concern of the exoskeleton market is the high cost of investment which may hamper the market growth. However, the cost of the robotics exoskeleton includes high cost of investment and high purchase price.
• The rising use in military operation helps to assisting injured soldiers and for lifting a heavy weight object is witness to fuel the growth of the market in the forecast period.  

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Global Exoskeleton Market: Regional Overview

• North America:

The exoskeleton market in the North America region is projected to witness high demand in the projected period.

The region has large share in growing genetic populations as well as the large purchasing power of patients. Also, the high number of industries in private and public sector will lead to increase the offering funds for the development of new technologic services. Whereas, the region is anticipating to increase a high growth rate in the military operations as the rising adoption of advance military system by the soldiers in the combat operations in the region.

• Asia-Pacific:

The Asia-Pacific is projected to witness a highest growth of the market in the forecast period.

The increasing healthcare infrastructure as well as the rising government support on the medical services in the region will enhance the market growth. With the faster growth in population and rising the economic growth will also play a key factor in the exoskeleton market growth. Whereas the countries such as Japan, China, India and South Korea in the region are one of the major technological countries across the globe. Hence, these factors will increase the demand of the exoskeleton market in the forecast period.

Global Exoskeleton Market: Key Players Overview

• B-Temia Inc.:

The company is a biorobotics technology company which develop and products the human argumentation system. The company is one of the top player in the exoskeleton industry. In 2016, the company has bring the technology to the WearRAcon series. Whereas, the company has licensed its technology growth for the military application with the help of Revision Military and Lockheed Martin.  In 2018, the company and Wistron has announced the Incorporation of B-Temia Asia. Whereas, the B-Temia Asia will introduce human mobility device Keeogo(TM) in the Asia.

• Bionik Laboratories Corp:

Bionik Laboratories Corp. is a robotics and medical device company. The company is advancing it growth in technologies transformation and solution for the user with neurological disorder.in 2017, the company has announced the integration with Amazon's Echo technology and Alexa Voice Service into an into its ARKE lower body exoskeleton.

Furthermore, the company has partner with Wistron Corporation to enhance and develop Exoskeleton Technologies for the consumer medical device. 

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